O-2021-3838 auth. issuance, $13.5 million, Certificates of Obligation, new city hall

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"Paying Agent/Registrar" means Zions Bancorporation, National Association, Houston, Texas, and its successors in that capacity. "Purchase Contract" means the bond purchase agreement between the City and the Underwriter regarding the issuance of the Certificates. "Record Date" means the close of business on the last business day of the calendar month immediately preceding the month in which the applicable Interest Payment Date occurs. "Register" means the registration books for the Certificates kept by the Paying Agent/Registrar in which are maintained the names and addresses of, and the principal amounts registered to, each Registered Owner of Certificates. "Registered Owner" means the person or entity in whose name any Certificate is registered in the Register. "Underwriter" shall mean the entity or entities specified in Section 7.1 hereof. Section 2.2: InterpretationsAll terms defined herein and all pronouns used in this Ordinance shall be deemed to apply equally to singular and plural and to all genders. The titles and headings of the articles and sections of this Ordinance have been inserted for convenience of reference only and are not to be considered a part hereof and shall not in any way modify or restrict any of the terms or provisions hereof. This Ordinance and all the terms and provisions hereof shall be liberally construed to effectuate the purposes set forth herein and to sustain the validity of the Certificates and the validity of the levy of ad valorem taxes to pay the principal of and interest on the Certificates. ARTICLE III TERMS OF THE CERTIFICATES Section 3.1: Amount, Purpose and AuthorizationThe Certificates shall be issued in fully registered form, without coupons, under and pursuant to the authority of the Act in the total authorized aggregate principal amount of [THIRTEEN MILLION FIVE HUNDRED THOUSAND DOLLARS ($13,500,000)] for the purpose of providing all or part of the funds to pay contractual obligations to be incurred for the purposes described in paragraph 1.1(a) hereof, and to pay the costs of issuing the Certificates. Section 3.2: Designation, Date and Interest Payment DatesThe Certificates shall be designated as the "City of La Porte, Texas, Certificates of Obligation, Series 2021," and shall be dated July 1, 2021. The Certificates shall bear interest at the rates set forth in Section 3.3 below, from the later of the Issuance Date, or the most recent Interest Payment Date to which interest has been paid or duly provided for, calculated on the basis of a 360-day year of twelve 30-day months, payable on March 15, 2022, and each September 15 and March 15 thereafter until maturity or earlier redemption.